Highland Park working with developer on historic theater

Developer Alcyon LLC has proposed renovating the Highland Park Theater and building a residential and retail building next door. (Jeff Danna, Tribune reporter)

The Highland Park City Council has voted to explore a developer’s proposal to renovate the historic Highland Park Theater and build condominiums next door.

The developer, Alcyon LLC, is a venture of Chicago-based Baker Development Corp. It’s named after the downtown theater’s original moniker, said Michael Blue, the city’s director of community development.

Alcyon was one of three developers that responded to a request for proposals the city issued in September 2011, Blue said. After reviewing the three proposals, city officials decided to work with Alcyon.

“This was the only one of the three that was that dynamic and exciting for me,” said Councilman Steven Mandel.

Alcyon’s proposal includes a six-story building on the parking lot adjacent to the theater, which would include residences and storefronts, Blue said. The theater would be renovated to seat about 500 to 600 people and show first-run movies. A parking deck would be built on a surface lot across the street.

Blue said Alcyon has proposed using revenue generated by the condo and retail building to support the development. Alcyon also would aim for a gold Leadership in Energy and Environmental Design, or LEED, rating from the U.S. Green Building Council.

A memorandum of understanding approved Monday allows city officials, commissioners and the public to begin reviewing the proposal, but does not lock the city into a contract, Blue said.

“I think many of our residents are saying, ‘Finally,’” said Councilman Paul Frank.

The city purchased the theater in 2009 and has operated it since. In May, the theater was closed indefinitely due to fire code violations. Officials learned in July the city would have to spend at least $90,000 to make the necessary repairs to get it up and running again.